Connect with us

Headlines

Lab-Grown Diamonds a Possibility for Signet, CEO Says

The company is ‘very closely monitoring’ demand for such products.

mm

Published

on

Selling lab-grown diamonds is a definite possibility for Signet Jewelers in the future, according to comments made by the company’s chief executive.

As Rapaport News reported, Signet CEO Gina Drosos answered a question on the topic during a call with analysts recently, saying the firm is “very closely monitoring and assessing the demand for this emerging category.”

“What our research shows is that customers prefer natural diamonds for those really important purchases, bridal purchase, special birthday, graduations those kinds of things, but there could be some growing interest in the fashion jewelry space for synthetic diamonds,” she said. “So we’ll make sure that Signet is well positioned to participate in that space if the growth and the economics of it are attractive and if customers point us in that direction.”

Signet is the parent of Sterling Jewelers, which operates Jared the Galleria of Jewelry, Kay Jewelers and Zales.

Lab-grown diamonds have been a hot topic lately, with De Beers Group announcing in May that it would launch a company called Lightbox Jewelry to begin marketing such jewelry. Lightbox lab-grown diamonds are set to become available this month, retailng from $200 for a quarter-carat stone to $800 for a one-carat stone.

Advertisement

There’s been “growing speculation that Signet might be lining up to carry the collection,” according to Rapaport.

Read more at Rapaport News

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

When Liquidation Is the Best Option, This Legendary Jeweler Chose Wilkerson

George Koueiter & Sons Jewelers, a 65-year old jewelry institution in Grosse Pointe, MI, had always been a mainstay in this suburban Detroit community. But when owners George and Paul Koueiter were ready to retire, they made the decision to close rather than sell. “We decided our best option to do the liquidation sale was Wilkerson,” says Paul Koueiter. The results, says George Koueiter, exceeded expectations and the process was easy. “Wilkerson just kept us in mind,” says George. “They never did anything without asking and whatever they asked us to do was just spot on.”

Promoted Headlines

Most Popular